IDA approves incentives for Hoosier

CANTON  The St. Lawrence County Industrial Development Agency approved incentives Thursday for Hoosier Magnetics, Ogdensburg, which is planning to replace an existing building with a 2,800-square maintenance facility with showers and locker room for employees.

The IDA approved a sales and use tax exemption and its standard payment-in-lieu-of-tax agreement, which provides for a 100-percent abatement for the first five years and a 50-percent abatement for a second five years.

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